How might the war in Ukraine impact the superyacht industry? (March 3, 2022)

With war now raging in Ukraine and international governments posing heavy sanctions on Russian companies and oligarchs, questions are being raised about how this war in Europe may impact the superyacht industry. With superyacht crew already being displaced and the supply chain coming under pressure, we take a look at the possible toll on the superyacht industry and all of those who work within it.
Russian owners made up 9% of all superyacht owners in 2021, making them the second largest ownership country behind the United States. While by region Eastern European owners, including Russian and Ukrainian, make up 18%. Russian owners are also the second largest owners of new-build yachts, with 13.2% of the market share of new-build superyachts over 40 metres in 2021-2025 (according to SYT iQ). The Head of Intelligence at SYT wrote in 2021: “The US, Russia, Turkey and the UK remain the most important buyer nations for in-build superyachts over 40 metres,” and this is thrown into a stark light when we consider the possible impact of this war on the yachting industry.

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